Finance

Long-dated U.S. government bond yields surged to levels not seen in over two decades, with the 10-year Treasury note yield climbing past 5.35%. This dramatic spike in borrowing costs was exacerbated by Federal Reserve Governor Christopher Waller, who suggested that further interest rate hikes could be required to combat persistent fiscal pressures.

International benchmark Brent crude oil surged by more than 4% to move above $104 per barrel following an escalation in tanker strikes in the Persian Gulf. Concerns regarding potential U.S. military updates and supply constraints linked to the ongoing war involving Iran have reignited fears of sustained energy-driven inflation.

The cryptocurrency market encountered selling pressure, pushing Bitcoin down past the $84,000 threshold after approaching multi-month highs earlier in the week. Analysts note that forced liquidations and broader macroeconomic pressures, including the rally in the U.S. dollar and spiking bond yields, have dampened the recent momentum of digital assets.